As part of the Covid-19 related cost reduction measures, the Kainos Board elected not to declare a final dividend for the year ended 31 March 2020. In light of the Group's performance, during the period, and following the repayment of the monies originally claimed under the furlough schemes, a special dividend of 6.7 pence per share (£8.2 million) was approved by the Board and paid on 4 September 2020 to shareholders on the register at the close of business on 7 August 2020.
Consistent with the guidance set out in their 2015 IPO Prospectus, to date the Group has adopted a progressive dividend policy, maximising shareholder return alongside retaining sufficient funds to invest in long-term growth. Kainos has consistently been profitable and has generated a strong cash balance. The proposed final dividend, if approved by shareholders, will be 15.1p and payable on 29 October 2021 to all shareholders on the Register of Members on 1 October 2021, and with an ex-dividend date of 30 September 2021. This will make the total dividend (including the special dividend) for the year 28.2p (2020: 3.5p) which will represent a distribution of 76% of the adjusted profit after taxation for the year (2020: 21%).
Other financial highlights include:
Revenue growth of 31% (28% organic) to £234.7 million (2020: £178.8 million).
Adjusted pre-tax profit increased 124% to £57.1 million (2020: £25.5 million).
Bookings up 6% to £258.8 million (2020: £243.6 million).
Contracted backlog growth of 15% to £206.2 million (2020: £180.0 million).